Invited on France Info this Thursday morning, the Minister of Economy and Finance expressed the wish that the oil group continues to block the prices of its fuels below 2 euros beyond December 31.
On August 28, the TotalEnergies group confirmed in a press release that it would keep its commitment to cap the price per liter of most of its fuels at 1.99 euros until the end of 2023. Ten days later, this Thursday morning, Bruno Le Maire, invited to speak on France Info, expressed his desire to see the oil giant go beyond this deadline. “I would like Total, which has made a commitment to cap the prices of all fuels at 1.99 euros until the end of the year, to extend this cap beyond December 31 to 1.99 euros” , indicated the Minister of the Economy and Finance. It must be said that prices at the pump continued to increase during the summer. This week, the average price per liter of diesel exceeded 1.85 cents, an increase of around 20 cents compared to June. The price of Unleaded 95 is dangerously close to 2 euros, at 1.92 on average, and even exceeds them by a wide margin in certain service stations.
In this very complicated context for motorists, and while inflation rebounded again in August, partly due to the rise in energy prices, Bruno Le Maire is waiting for further help from the TotalEnergies group which, it should be remembered, had made more than 19 billion in profit in 2022, the largest in its history. “Total is the only major French oil company that we have left, this must be an asset for the French nation in general but for all motorists”, recommends the minister, aware of the stakes. While Prime Minister Elisabeth Borne confided at the end of August that the return of “fuel vouchers” was not on the agenda, the government does not seem ready to put its hands in its pocket again.
“We are not intended to pay for the political and geopolitical choices of Saudi Arabia or Russia”
In 2022, faced with the sharp rise in fuel prices following the outbreak of war in Ukraine, the government introduced in the fall of 2022 a general rebate of 30 cents and then 10 cents which ended on December 31. A state discount seems unthinkable today to listen to Bruno Le Maire this Thursday morning on France Info. For the former Minister of Agriculture, new aid would be a “triple aberration”, both “ecological”, “budgetary” and “diplomatic”. “It means that you are paying for the oil diplomacy of Mr. Putin and Saudi Arabia, which aims to reduce volumes to increase prices,” he explains. We are not intended to pay for the political and geopolitical choices of Saudi Arabia or Russia”.
As we will have understood, the Minister of the Economy and Finance hopes above all to convince TotalEnergies to extend the cap on its prices. “It is up to Patrick Pouyanné to make the decision, but I welcome the choice that has been made by Total for several months (…) I trust him to take into consideration the difficulties of our compatriots.” The ball is now in the camp of the CEO of the oil group, elevated to the rank of officer of the Legion of Honor a few weeks ago.
